The meme coin market is known for delivering some of the market's most explosive gains

Boasting the potential to stun those monitoring the meme coin market with a new rally, Fartcoin now faces competition from Solaxy (SOLX)

Meme coins have become a hit with crypto investors, especially during periods of market uncertainty. These tokens, which are typically launched on Solana, have gained immense popularity for their potential to generate massive returns within a short span of time.

While many meme coins fade away as quickly as they surge, Fartcoin (FARTCOIN) is still going strong. The token, which is known for its potential to stun those monitoring the meme coin market with a new rally, faces competition from Solaxy (SOLX).

Solaxy’s upcoming debut could help it eclipse the rest of the meme coin market with a massive upside, making its currently discounted token a perfect pick for investors.

Whale Interest Fueled a Jump in Fartcoin’s Value Over the Past Week

Launched on Solana in mid-October, Fartcoin benefited from the convergence of several bullish factors.

With the market-wide hype surrounding the upcoming US Election Day and the growing interest in AI-related projects, the token experienced immediate success.

Its unique approach to the market helped it attract a cult-like following, with trader Pete claiming that 65% of its holders never sold a single Fartcoin, even during its late January dip.

Over the past week, aggressive whale accumulation and renewed investor interest helped Fartcoin grow by 26.41%. Entering June 4th priced at $0.98, Fartcoin found strong support that took it back above $1, with three whales taking advantage of the attractive buy zone.

According to Lookonchain, the three whales bought $9.5 million worth of Fartcoin when it was priced at $1.02 and $1.04.

3 whales bought 9.2M $Fartcoin($9.5M) over the past 4 hours.

Fresh wallet BGSLvB withdrew 4M $USDC from #Kraken to buy 3.85M $Fartcoin at $1.04.

Whale GvE26u spent 3.63M $USDC to buy 3.57M $Fartcoin at $1.02.

Fresh wallet 56sxMc spent 12,000 $SOL($1.87M) to buy 1.79M…

— Lookonchain (@lookonchain) June 4, 2024

By June 11th, the token reached $1.31, with another significant investment taking place on June 10th, when a whale swapped 2 million USDC for Fartcoin.

Beyond increased whale interest, the confirmation of Fartcoin’s listing on Coinbase International Exchange sparked a surge in price and trading volume.

With Fartcoin’s technical indicators, such as the Awesome Oscillator (AO) and Money Flow Index (MFI) turning positive following its breakout from a short-term descending channel, the token seems well-positioned for further growth.

Although crypto expert Anglio believes Fartcoin is on its way to reach $10, technical analyst Momin has a much more conservative prediction for June. The analyst suggests Fartcoin is bound to face a correction before its next leg up, expecting it to reach $1.5 by late June.

Momin’s prediction is well-supported by Fartcoin’s long/short ratio, which dipped below 1, indicating that more traders are shorting the token. However, its Relative Strength Index (RSI) is in the low-to-mid 50s, confirming buyers remain active and the market is not yet overbought.

Looking forward, Fartcoin has a strong chance to reach $1.5, with further gains possible if buying pressure persists.

While that would represent a respectable 657% jump in value, investors looking for more explosive gains are now eyeing Solaxy.

Solaxy Presale Ends in Just 5 Days

Solaxy aims to launch an entire ecosystem designed to improve the experience of Solana users.

It will also introduce a Layer 2 blockchain, which will be the central component of the ecosystem. The chain is being developed to resolve Solana’s scalability issues, especially those that arise during high-traffic hours and meme token seasons.

Once released, it could result in significantly faster transaction speeds and lower gas fees, thanks to its rollup technology, which will bundle transactions and process them externally.

Besides the Layer 2 solution, Solaxy intends to launch a token launchpad, DEX, bridge, block explorer, and other features.

With the chain scheduled to become fully operational this month, SOLX will have numerous use cases as its native token. Currently, the token sells for $0.001752 each, and investors have just five more days to secure their share of it at a discount.

Through continuous updates, the project’s developers have